COLLAPSING oil prices could cost more Scottish jobs than the Ravenscraig closure, it was claimed yesterday.

Scottish Parliament analysis shows 16,000 Scots could lose their livelihoods if the global price remains below $60 a barrel. Many analysts expect lower prices to last a year.

By comparison, the Ravenscraig steelworks in Lanarkshire employed 13,500 before its devastating closure.

Scottish Labour yesterday seized on the research to demand action from the UK and Scottish Governments.

The party’s economy spokeswoman Jackie Baillie said: “There is a huge threat to jobs here. The industry and experts predict up to one in 12 oil jobs are at risk.” She added it could have a knock-on effect across Scotland.

Baillie repeated calls for Nicola Sturgeon and David Cameron to attend an oil crisis summit being organised by Aberdeen Council.

She said: “This is too important for the UK and Scottish Governments to score points by playing pass the parcel. The Scottish Government can set up a resilience fund to be used when key industries face a crisis.”